The Inland Empire industrial dashboard
The same submarket data we use to price listings, underwrite acquisitions, and negotiate leases. Published openly, updated every quarter.
The market average hides the real spread
Q2's deal-weighted averages converged near $258/SF in the West and $256/SF in the East, but individual trades still ranged from roughly $150 to $260/SF. Pick a size range and see why the market average is only a starting point.
The tightest segment in the market. Owner-user demand on SBA debt keeps multiple offers common; effectively no new small-bay supply has been built since the 1980s.
Mudge Team estimates anchored to the Lee & Associates Q2 2026 reports and the team’s own closed comps. Class, condition, and excess yard move individual buildings outside these ranges.
Where the market is tight, and where it isn't
Toggle the metric to compare submarkets. Click a marker or row for the team's read on each trade area.
| Submarket | Vacancy | Asking NNN / SF / Mo | Sale $ / SF | IOS $ / Land SF / Mo | YoY Rent |
|---|---|---|---|---|---|
Ontario / Airport Ontario, Chino | 5.2% | $1.07 | $260 | $0.12 | -0.5% |
Rancho Cucamonga Rancho Cucamonga, Upland | 4.5% | $1.11 | $275 | $0.13 | -0.3% |
Fontana Fontana, Bloomington | 5.3% | $1.03 | $250 | $0.11 | -0.8% |
Jurupa Valley / Rialto Jurupa Valley, Rialto, Colton | 5.6% | $1.00 | $245 | $0.11 | -1.0% |
Riverside Riverside, Woodcrest corridor | 8.8% | $0.93 | $252 | $0.10 | -11.7% |
Corona Corona, Norco, Temescal Valley | 7.4% | $1.02 | $272 | $0.13 | -9.5% |
Moreno Valley / Perris Moreno Valley, Perris, Mead Valley | 12.3% | $0.86 | $230 | $0.09 | -13.5% |
San Bernardino / Redlands San Bernardino, Redlands, Loma Linda | 10.8% | $0.89 | $240 | $0.09 | -12.7% |
Submarket figures are Mudge Team estimates calibrated to the Lee & Associates Q2 2026 East and West reports.
The cycle, charted
Trailing eight quarters of Inland Empire fundamentals, blended from the Lee & Associates East and West reports. This is the context behind every pricing conversation we have.
What's being built, and where
±5.8M SF is under construction across the East and West reports. The pipeline rose quarter over quarter as West IE projects advanced, but remains well below the roughly 9.8M SF underway one year ago.
Vacancy improved, but the recovery is uneven.
The Q2 numbers improved on both sides of the Inland Empire. West vacancy fell from 6.09% to 5.16%, while East vacancy eased from 10.31% to 9.86%. On an inventory-weighted basis, that puts the region near 7.2% vacancy. Asking rents still softened to about $1.04/SF/month NNN in the West and $0.92 in the East, so tenants retain leverage even as the amount of empty space begins to recede.
Demand also moved in the right direction, but the two Lee reports use different absorption measures and should not be combined. West 12-month net absorption swung from negative 1.77M SF in Q1 to positive 2.56M SF in Q2. East 12-month gross absorption remained substantial at 6.94M SF, down from 7.85M SF. Small and mid-size users remain the most dependable segment, while large requirements still have more choices and negotiating room.
Industrial Outdoor Storage is the outlier in the other direction. IOS rents in the IE grew again to roughly $0.10–$0.13 per land square foot per month, with another 6–8% of growth projected for 2026. AB 98’s truck-route, setback, and buffer requirements, now in force across the twelve Warehouse Concentration Region cities, make new yard entitlements harder every quarter. If you own a CUP-approved yard, you own something the market structurally cannot replace. Price it accordingly.
Sale-price averages converged in Q2 at $258/SF in the IE West and $256/SF in the East, but individual transactions still ranged from roughly $150/SF to $260/SF. Size, class, loading, power, land coverage, and entitlement remain more useful than a single regional average.
- Lee & Associates: Inland Empire West Industrial, Q2 2026 ↗
- Lee & Associates: Inland Empire East Industrial, Q2 2026 ↗
- Lee & Associates: Research Library (all markets, quarterly) ↗
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